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Tron Announces Its $20 Million TRX Buy-Back Program

According to Tron Foundation, the program will have the widest coverage in the secondary market. It will last for a year and will include buying back TRX from the secondary markets in batches with no less than $20 million. 


June 25 is a significant day for the Tron community: on this day last year, Tron separated itself from Ethereum blockchain, launched the Tron mainnet and generated its first genesis block. To celebrate the event, Tron has come up with some initiatives, which Tron CEO Justin Sun spoke about during a live stream with the Tron community.


One of the most important announcements made by Justin Sun was the Tron buy-back program aimed to promote community activity and market stability:


"We will conduct by far the largest #TRX buy-back plan with the widest coverage in the secondary market, which will last for a year and will be conducted in several batches with no more than $20 million. #TRON $TRX"

— Justin Sun (@justinsuntron) June 25, 2019



According to Tron Foundation, the program will have the widest coverage in the secondary market. It will last for a year and will include buying back TRX from the secondary markets in batches with no less than $20 million.


Further, Sun spoke about the TRX holding plan by TRON Foundation. The TRX holding will be unlocked on January 1, 2020. At this point, the Tron Foundation has no specific plans for this unlocked amount of TRX. The announcement states:


“The Foundation will continue to increase our TRX holding in the secondary market to manifest our confidence in the development of the TRON ecosystem.”


Tron Independence Day coincides with TRX getting back to its position among the top ten coins by market cap, which was predicted by Justin Sun earlier this year.

Read More at CoinSpeaker...

#TRX

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